Not only does landscaping add to the exterior appeal of a home, it can also give real estate a 15% boost in value, according to a study conducted by Virginia Tech. The study found that the perceived value of a home is affected by the size, type, and design of the plants used in landscaping. Estimates vary, but the presence of mature trees on a plot can increase home value by up to 15%. One of the most modern and expensive landscaping features is a built-in permanent platform for entertainment and cooking.
This increases the useful area of the house and returns approximately 83% of the amount spent. An outdoor kitchen space is an attractive feature for many buyers, but it's important to finish and protect it properly for your climate in order to make it last. Building a fire pit in cold climates and ensuring there is good shade and air circulation in warmer climates are essential. Specialized asphalt patches for tennis or basketball courts may meet your needs, but they are unlikely to improve the value of your property. As with all home remodeling efforts, some landscaping projects increase value and others don't. It's best to avoid expensive or overly personalized projects and focus on beautification and low maintenance that will appeal to a wide range of people.
Researching to make the most sensible decision can help you maximize your return on investment. Many shoppers today love landscaping, but they don't have the time or inclination to spend the time traditionally needed to maintain it. According to the American Society of Landscape Architects (ASLA), homes that have been professionally landscaped can get 15-20% more at the time of resale than homes with less attractive landscapes. The Appraisal Institute, the largest association of real estate appraisers in the United States, informs homeowners that “improving the landscaping of their property can result in a significant return on investment when selling the home.”A study conducted by Virginia State University tested people's perception of different styles of landscaping in a garden. The National Association of Realtors (NAR) also supports claims that landscaping your home can increase its value.
The price difference between “average” landscaping and good landscaping was 4-5%, but sales prices could be up to 7% higher if quality was considered excellent. Looking at actual sales and spotting a pattern of better landscaping that improves sales price is more valuable research than just people's perception. This benefit ranges from 5.5-12.7%, depending on the type of landscaping and the original value of the home. One way to increase the perceived value of a home through garden improvements is to build a structure. This could be anything from an outdoor kitchen space or fire pit to a tennis or basketball court. However, it's important to remember that these specialized features are unlikely to improve property value. Overall, it's best to focus on beautification and low maintenance projects that will appeal to a wide range of people.
Researching to make sensible decisions can help you maximize your return on investment.